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Securities / Derivatives
Enforcement
HSBC, Scotia Fined for Use of Unapproved Messaging Tools
By Editors | 12/05/2023
Employees, including those at senior levels and in compliance roles, used unapproved messaging tools to engage in business-related communications.
Market Infrastructure
Swap Connect – A New Addition to the Connect Family
By Chong Liew | 11/05/2023
Swap Connect will mark another milestone for Hong Kong as a “super-connector” between mainland China and the rest of the world, says Chong Liew.
Crypto / Digital Assets
30 Firms to Launch “Network of Networks” for Digital Assets
By Editors | 11/05/2023
The Canton Network will provide a decentralised infrastructure that connects independent applications like Deutsche Börse’s D7 post-trade platform and Goldman’s GS DAP.
ESG / Sustainability
ASIC Offers Guidance on Avoiding Greenwashing Penalties
By Editors | 11/05/2023
ASIC has taken 35 actions against greenwashing since July 2022. It has several other investigations underway and anticipates further regulatory action.
Capital / Liquidity
HKMA Specifies Regulatory Treatment of Swap Connect Margins
By Editors | 10/05/2023
Margins posted by banks to OTC Clear for participating in Swap Connect should be treated in the same manner as default fund contributions.
Enforcement
S. Korea: Key Suspect Detained in Stock Manipulation Case
By Editors | 10/05/2023
Ra Deok-yeon allegedly used order matching to inflate stock prices and defraud investors. Two other key suspects were also detained.
Securities / Derivatives
IOSCO Publishes Guidance on Enhancing SPAC Regulations
By Editors | 10/05/2023
The report focuses on addressing dilution risk, the protection of retail investors, and the “significant backlog” of SPACs seeking to avoid liquidation.
Securities / Derivatives
International Court Reduces Compensation Korea Has to Pay Loan Star
By Editors | 09/05/2023
The Korean government would still have to pay $216mn to US private equity firm Lone Star, despite the reduction.
Market Infrastructure
Philippine SEC Issues Guidelines on Financial Instrument Identifiers
By Editors | 09/05/2023
The SEC issued guidelines on the allocation of ISIN, CFI and FISN codes to financial instruments in the Philippines.
Enforcement
US Authorities Investigating Short Sales of Banking Stocks
By Editors | 09/05/2023
SEC chair Gary Gensler said the agency would go after any form of misconduct that might threaten investors or markets.
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